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Rubicon Research Ltd

Rubicon Research Ltd

NSE & BSE · Mainboard IPO
Listed NSE & BSE Mainboard Live Chart
Issue Price
₹485
₹485
GMP (Grey Market)
+₹105
+21.65%
Est. Listing Price
₹590
Based on GMP
Min. Investment
₹14,550
1 lot × 30 shares
Subscribed
1.00x
Over-subscribed
IPO Details
Open Date
09 Oct 2025
Close Date
13 Oct 2025
Allotment
14 Oct 2025
Listing Date
16 Oct 2025
Exchange
NSE & BSE
Price Band
₹485
Listing Price
See chart
Allotment Status
Price Band
₹485
Per share
Face Value
₹1 per share
 
Lot Size
30 Shares
per lot
Issue Size
2,84,02,040 shares (aggregating up to ₹1,377.50 Cr)
Total offering
Issue Type
Bookbuilding IPO
 
Min Investment
₹14,550
1 lot
Pre-IPO Holding
15,44,37,251 shares
Promoters
Post-IPO Holding
16,47,46,529 shares
Promoters
P/E (Pre)
55.75x
 
P/E (Post)
46.13x
 
EPS (Pre)
₹8.70
 
EPS (Post)
₹10.51
 
UPI Deadline
2025-10-13
Mandate
GMP
+₹105
+21.65% est.
Anchor AllotmentWed, 08 Oct 2025
Basis of AllotmentTue, 14 Oct 2025
Refund InitiationWed, 15 Oct 2025
Demat CreditWed, 15 Oct 2025
Listing DayThu, 16 Oct 2025
UPI Mandate Deadline2025-10-13
Sale TypeFresh Capital-cum-Offer for Sale
Fresh Issue Shares1,03,09,278 shares (aggregating up to ₹500.00 Cr)
Offer for Sale1,80,92,762 shares of ₹1 (aggregating up to ₹877.50 Cr)
QIB Quota50% of Net Issue
HNI / NII Quota15% of Net Issue
Retail Quota35% of Net Issue
Check AllotmentClick here →
Subscription Rate Final
Rubicon Research Ltd IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 13 Oct 2025.
QIB
1.00x
Over
NII/HNI
1.00x
Over
Retail
1.00x
Over
Total
1.00x
Over
Category Subscription Shares Offered % of Total Amount (₹Cr)
QIB
Over 1.00x
NII / HNI
Over 1.00x
Retail
Over 1.00x
Total 1.00x
15,637,349
100% ₹758.41
IPO Shares Offered
Rubicon Research Ltd IPO total issue size: ₹758.41 Cr.
CategoryShares OfferedAmount (₹Cr)Size (%)
Total 15,637,349 ₹758.41
100.00%
* Based on upper price band ₹485 per share
Lot Size & Investment
Lot Size
30
Shares per Lot
Issue Price
₹485.00
Upper Band
Min Investment
₹14,550
1 Lot
ApplicationLotsSharesAmount
Retail (Min — 2 Lots)260₹29,100
Retail (Max — 13 Lots)13390₹189,150
S-HNI (Min — 14 Lots)14420₹203,700
B-HNI (Min — 69 Lots)692,070₹1,003,950
* Issue Price ₹485 × Lot Size 30 shares
IPO Schedule
Anchor
08 Oct 2025
✓ Done
IPO Open
09 Oct 2025
✓ Done
IPO Close
13 Oct 2025
✓ Done
Allotment
14 Oct 2025
✓ Done
Refunds
15 Oct 2025
✓ Done
Demat Credit
15 Oct 2025
✓ Done
Listing Day
16 Oct 2025
✓ Done
Rubicon Research Ltd — Live Price LIVE
₹485.00
INR · BSE
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Issue ₹485.00 GMP: +₹105 Live Price
About Rubicon Research Ltd
Incorporated in 1999, Rubicon Research Limited is a pharmaceutical company engaged in the development, manufacturing, and commercialization of differentiated formulations.As of June 30, 2025, Rubicon Research had a portfolio of 72 active Abbreviated New Drug Application (ANDA) and New Drug Application (NDA) products approved by the US FDA. The company’s portfolio includes 66 commercialized products, with a US generic pharmaceutical market size of USD 2,455.7 million, of which Rubicon Research Limited contributed USD 195 million in Fiscal 2024.As of June 30, 2025, the company has 17 new products awaiting US FDA ANDA approval and 63 products at various stages of development.As of June 30, 2025, the company marketed over 350 SKUs to 96 customers, including three major wholesalers who, account for more than 90% of wholesale drug distribution in the US. The company also supplies group purchasing organizations (GPOs), national pharmacy chains, regional pharmacy chains, and managed care organizations.Beyond the US market, Rubicon Research Limited, directly or through third-party distribution partners, has registered or filed 48 product applications across Australia, the United Kingdom, Singapore, Saudi Arabia, and the United Arab Emirates and expects to commence commercial activities upon approval. The company also provides contract manufacturing services to select customers in India, Australia, and New Zealand.Rubicon Research Limited operates three manufacturing facilities in India and two US FDA inspected R&D facilities-one each in India and Canada.Competitive strengthsFastest-growing Indian pharmaceutical company amongst peers.Data-driven product selection frameworkStrong R&D capabilitiesRobust sales and distribution capabilities in the USStrong track record of compliance combined with expertise in cost effective manufacturingExperienced and entrepreneurial management team
Objects of the Issue
1
Prepayment or scheduled repayment of all or a portion of certain outstanding borrowings availed by the Company
2
Funding inorganic growth through unidentified acquisitions and other strategic initiatives and General corporate purposes
Rubicon Research Ltd Financials (Amount in ₹ Crore)
Revenue from Operations
₹872.4
31 Mar 2024
₹1,296.2
31 Mar 2025
₹357.0
30 Jun 2025
Profit After Tax (PAT)
₹91.0
31 Mar 2024
₹134.4
31 Mar 2025
₹43.3
30 Jun 2025
Particulars30 Jun 202531 Mar 202531 Mar 2024
Revenue from Operations 356.95 1296.22 872.39
EBITDA 79.74 267.89 173.09
Profit After Tax (PAT) 43.30 134.36 91.01
Net Worth 593.67 540.98 385.00
Total Assets 1647.60 1451.43 1109.49
Reserves & Surplus 397.50 525.57 369.79
Borrowings 495.78 393.17 396.41
EBITDA Margin (%) 20.67%
PAT Margin (%) 10.37%
P/BV Ratio
13.65
RoE
29.02%
RoCE
26.45%
RoNW
29.02%
PAT Margin
10.37%
EBITDA Margin
20.67%
Debt/Equity
0.73
Issue Structure & Shareholding
Total Shares Offered1,56,37,349 (100.00%)
Net Offer to PublicN/A
Reserved for Market MakerN/A
Pre-Issue Promoter Holding15,44,37,251 shares
Post-Issue Promoter Holding16,47,46,529 shares
P/BV Ratio13.65
RoE29.02%
RoCE26.45%
Debt / Equity0.73
Script CodeN/A
Registrar & Lead Managers
Book Running Lead Managers
Axis Capital Ltd
IIFL Capital Services Ltd
JM Financial Ltd
SBI Capital Markets Ltd
GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.
IPO Subscription FAQs
How much Rubicon Research Ltd IPO subscribed?

Rubicon Research Ltd IPO is subscribed 1.00 times by Oct 13, 2025. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor CategorySubscription
Qualified Institutional (QIB)1.00x
Non Institutional (NII/HNI)1.00x
Retail Individual1.00x
Total Subscription1.00x
What is Rubicon Research Ltd IPO retail subscription status?

The Rubicon Research Ltd IPO retail category is subscribed 1.00 times as of 13 Oct 2025. The retail portion is oversubscribed.

How to subscribe Rubicon Research Ltd IPO?

Subscribe via your broker app using ASBA or UPI. Opens 09 Oct 2025 and closes 13 Oct 2025. Min investment: ₹14,550 (1 lot = 30 shares). UPI mandate: 2025-10-13.

How many times Rubicon Research Ltd IPO subscribed?

The Rubicon Research Ltd IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Rubicon Research Ltd IPO allotment?

Check allotment on the registrar website (MUFG Intime India Pvt.Ltd) at https://linkintime.co.in/Initial_Offer/public-issues.html. Enter your PAN, application number or DP/Client ID. Allotment date: 14 Oct 2025. Refunds: on 15 Oct 2025.

When Rubicon Research Ltd IPO will be listed?

The Rubicon Research Ltd IPO listing date is 16 Oct 2025, Thursday. Listed on: NSE & BSE. Issue price: ₹485. Estimated listing: ₹590. GMP: +₹105.

When Rubicon Research Ltd IPO close?

The Rubicon Research Ltd IPO closes on 13 Oct 2025, Monday. UPI mandate: 2025-10-13. Allotment: 14 Oct 2025. Listing: 16 Oct 2025.